In a bombshell announcement, Marvel Studios and Sony Pictures have made it official: Spider-Man is joining the Marvel Cinematic Universe. Marvel and Sony will team-up to bring your friendly neighborhood webhead into the same shared universe inhabited by Iron Man, Captain America, the Guardians of the Galaxy and more, beginning with a first appearance in an unspecified Marvel movie, followed by his own brand-new solo "Spider-Man" film in 2017.

In other words: Spider-Man is now rubbing elbows with the Avengers. In other words: WHAT IS HAPPENING.

Over the past several months, rumors persisted that Sony and Marvel were considering a deal to share Spider-Man on the big-screen, but it always felt like a pie-in-the-sky wish. Why would Sony surrender their one jewel in the precious Marvel crown?

It turns out that they don't have to. The announcement makes clear that Sony will remain very much involved in the web-slinger's cinematic future, as they "will continue to finance, distribute, own and have final creative control of the Spider-Man films." But those films will exist in the same universe designed and ruled by Kevin Feige and Marvel Studios, creators of some of the most beloved superhero movies of the modern era.

Needless to say, this is amazing. More on the news as we all process the information, but for now, bank on this: "Spider-Man" swings back into theaters on July 28, 2017, as part of the Marvel Cinematic Universe.